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2023 (5) TMI 537 - AT - Income TaxMaintainability of revenue appeal before ITAT on low tax effect - addition u/s 68 for Bogus LTCG - unexplained expenditure of payment of commission u/s. 69 - CIT-A deleted the addition - AR pointed out that the CBDT issued Circular No. 23 of 2019 on 06.09.2019 stating therein that notwithstanding anything contained in any circular issued u/s 268A specifying mandatory limits for filing of departmental appeals before ITAT, etc. appeals may be filed on merits as an exception to the said circular, where Board, by way of special order direct filing of appeal on merits in cases involved in organized tax evasion activity - HELD THAT:- We have gone through the decision in Surendra Shantilal Peety’s case[2022 (5) TMI 116 - BOMBAY HIGH COURT], we find that the issue as to whether CBDT Circular No.23 of 2019 dated 06.09.2019 and Office Memorandum dated 16.09.2019 had any retrospective effect came up for consideration before the Hon'ble Gujarat High Court in Pr.CIT vs. Anand Natwarlal Sharda [2021 (6) TMI 1065 - GUJARAT HIGH COURT] held that the said Circular read with Office Memorandum could not be construed to have retrospective effect with which the Hon'ble Bombay High Court was in respectful agreement. Finding force in the submissions of the Ld. AR, we hold that the appeal of the Revenue is not maintainable on account of low tax effect as the CBDT Circular No. 23 of 2019 dated 06.09.2019 read with Office Memorandum dated 16.09.2019 is not applicable to the case of the assessee. We, therefore, refrain from deciding the appeal on merits.
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